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Egypt allocates EGP 47bn to Upper Egypt development in FY 2020/21 - Daily News Egypt

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Egypt allocates EGP 47bn to Upper Egypt development in FY 2020/21

The total constitutes 25% of the total distributed government investments, and reflects a 50% increase over the previous plan for 2019/20.


Upper Egypt’s governorates will receive EGP 47bn in government investments in the year plan for the fiscal year (FY) 2020/21, according to Minister of Planning and Economic Development Hala El-Said.

The total constitutes 25% of the total distributed government investments, and reflects a 50% increase over the previous plan for 2019/20.

El-Said said that the government prioritises the localisation of sustainable development goals in Egyptian governorates. This is with the aim of achieving inclusive growth and balanced regional development, as one of the main pillars of Egypt’s Vision 2030.

El-Said noted that as part of efforts to accelerate implementation rates in the local development programme in Upper Egypt, the sustainable development plan 2020/21 includes government investments of about EGP 2.9bn. These will be directed to development programmes in the governorates of Qena and Sohag.

The total budget directed from the state’s plan to this programme reached about EGP 7.9bn in the four years from 2017/18. This is in addition to directing EGP 19.2bn to the border governorates, North and South Sinai, Matrouh, and New Valley, with a growth rate exceeding 60%.

During a meeting with El-Said, economic expert and director of the Egypt Network for Integrated Development (ENID/El Nidaa) Heba Handousa gave a presentation on the development of economic blocs in Upper Egypt.

Handousa explained that there are 145 natural blocks in Egypt that include 77,654 establishments, about 79% of which are small- and medium-sized enterprises (SMEs).

Handousa added that these blocs were created without any government intervention or planning. They currently employ approximately 580,000 workers, of whom one third are women, according to the Micro, Small and Medium Enterprises Development Agency (MSMEDA).

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https://dailyfeed.dailynewsegypt.com/2020/06/20/egypt-allocates-egp-47bn-to-upper-egypt-development-in-fy-2020-21/
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